Few industries are as competitive as food delivery, which features billion-dollar players like DoorDash, Uber Eats, GrubHub, and others. While usage of delivery apps has grown during the pandemic, the outcry about fees has also risen.
These fees and surcharges are one of the reasons why Edward D. Floyd quit his government job and stopped driving for Postmates to focus full-time on Spirit Tree Delivery, his Austin-based app that delivers food and alcohol. Floyd joined the Cover Charge podcast to discuss:
- Using credit cards and payday loans to fund his business early on
- Raising $120k from family and friends for a small piece of the company
- His company’s fee structure and value prop to consumers and businesses
- How he’s adjusted to being the boss and learned to “part ways” with employees
- His goal of delivering cannabis products once they’re legalized in Texas
Listen to the podcast episode below. It’s also available on Apple Podcasts, Spotify, SoundCloud, or Stitcher. Subscribers can check out the full transcript of our conversation. For past “Cover Charge” episodes, click here.